Toronto Tax Planning
One may think that when it comes to taxes that it is a pretty cut and dried situation. You just figure out what you have to pay and there is no getting around it. Of course as a Toronto taxpayer, just like everyone else you have the responsibility of paying your Canadian taxes. You could even be involved in foreign taxes as well if you own property or generate an income from outside of Canada.
You can make a difference in the amount of taxes that you do pay however, if you make use of the Toronto tax planning services that are available to you as a Torontonian. You have Federal taxes that you are responsible, but there are also Provincial taxes that are dealt with on a yearly basis. By planning your business or knowing what little things you can take advantage of in both levels of taxes you could end up paying less. A good example of this many be a split income possibility.
No matter what your age, once you start earning income as a resident of Canada you come under the tax laws, and knowing how to tax advantage of any type of tax savings means more money in your pocket and less in the tax departments. The great part of this is that it’s legal and a way that the Government has provided for some individuals to reduce the amount of tax they have to pay. The big problem is that many taxpayers don’t know how to implement tax planning and it can be complex.
I take great pleasure in saving my clients’ tax money whenever possible. One of the most powerful resources to do this is with tax planning. As a Toronto Accountant I offer these services to Toronto and surrounding area tax payers. Just sign up for a free consultation and let me tell you how I can help.